Financial and Banking News
BUDGET AND REVENUES
GCC Current Account Deficit of $8.7bn Recorded in 1986
According to the annual report of the Kuwait-based Gulf In- vestment Corporation (GIC), the aggregate current account of the six member states of the Gulf Cooperation Council (GCC) was in deficit by an estimated $8.7bn in 1986 despite a reduction in imports, which in some GCC states declined by as much as 30% during the year. The deficit in 1986 com- pares with a surplus of $13bn in...
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